Grandbridge Minneapolis Closes Industrial and Retail Refinance 

Minneapolis, Minn. — Despite today’s challenging commercial real estate capital markets, the Minneapolis office of Grandbridge Real Estate Capital recently originated and closed two commercial real estate loans in the state.

A life insurance company provided $5 million in refinancing proceeds secured by an industrial building in Chanhassen and a local bank provided a $2.66 million loan secured by a retail property in Roseville.  The industrial loan was nonrecourse and both loans were structured with fixed interest rates and longer amortization schedules to increase each borrower’s cash flow.
These loans put Grandbridge’s 2009 transaction volume at more than $2 billion.  Minneapolis-based Dave Rasmussen, Karen Dubrosky, and Tony Carlson originated and closed the transactions.
Charlotte, N.C.-based Grandbridge has a broad investor base that includes insurance companies, pension fund advisors, commercial banks and capital markets investors, as well as a proprietary lending platform.

The company is a Freddie Mac Program Plus® Seller/Servicer and Targeted Affordable Housing Lender as well as a Fannie Mae Delegated Underwriting and Servicing (DUS®) lender. Grandbridge is also a Multifamily Accelerated Processor (MAP) and LEAN health care approved active participant in multifamily products insured by the Federal Housing Administration (FHA).

The company arranges permanent commercial and multifamily real estate loans; services loan portfolios; and provides asset and portfolio management, as well as real estate brokerage services. Grandbridge has a servicing portfolio of approximately $24.8 billion representing nearly 100 capital providers.

For details on the acquisitions and more information about Grandbridge and its locations, visit www.gbrecap.com.

At September 30, BB&T Corporation had $165 billion in assets and was the nation’s 10th largest financial holding company. Founded in 1872, it operates more than 1,850 financial centers in 11 states and Washington, D.C. More information about the company is available at BBT.com.